DUBLIN--(BUSINESS WIRE)--The "Asia-Pacific IoT in Automotive Market (2018-2023)" report has been added to ResearchAndMarkets.com's offering.
Asia-Pacific is the fastest growing IoT in automotive market in the world. The major countries like China, India and Japan are adopting IoT at a fast pace, which is driving the adoption of IoT in Asia-Pacific automotive market as well. Increasing level of pollution in the Asian countries, especially in China, is a concern.
Though Asia-Pacific is in its developmental stage in full adoption of IoT, the region is expected to register the highest CAGR among all the other regions. Countries like China and Japan have deep-rooted interest in technology. Thus, adoption of IoT in automotive can happen very quickly.
Government initiatives for collecting traffic data for proper monitoring of vehicles is also an extremely positive initiative towards adoption of IoT technology in the Asia-Pacific countries.
The navigation segment is expected to show the highest growth rate in the region owing to the government investments in IoT related infrastructure development and local business modernization in China, India and the Philippines for better navigation. Navigation in Asia-Pacific is quite difficult, given the congestion, road conditions and poor lighting in some parts of the region.
Key Growth Factors
A lot of focus on usage based insurance is being given in the Asia-Pacific region and there is a constant push towards penetration of automotive insurance. This is expected to drive the adoption of automotive IoT as it enables monitoring of driver behavior and car condition which are important data for automotive insurance companies.
Asia-Pacific is expected to become one of the most prominent markets by 2025 for IoT enabled cars owing to high growth in the automotive market and enhanced connectivity infrastructures across the region.
Threats
Companies Profiled
- Cisco
- Ford
- IBM
- Microsoft
- AT&T
- TomTom
- General Motors
- Audi
- NXP Semiconductors
Topics Covered
Chapter 1. Executive Summary
Chapter 2. Asia-Pacific IoT in Automotive Market - Overview
Chapter 3. Asia-Pacific IoT in Automotive Market - by Countries
Chapter 4. Competitive Landscape
Chapter 5. Conclusion